The company said that this 300 MW power shall be supplied to JKPCL from the under construction 1,000 MW Bikaner solar project which is being developed under the Central Public Sector Undertaking (CPSU) scheme of IREDA at a cost of Rs 5,491 crore.

The project is being developed under the domestic content requirement (DCR) mode and is slated for commissioning by July 2024. Power from this project is for Government use either directly or through Discom, it added.

“The company is on rapid progression to achieve its shared vision of 25,000 MW by 2030 & 50,000 MW by 2040. This shared vision has been formulated in sync with the commitment of the Government of India of generating 50% energy from non-fossil fuel-based energy resources by 2030,” SJVN stated.

SJVN is engaged principally engaged in electricity generation. The company is also engaged in the business of providing consultancy.

The company’s consolidated net profit dropped 51.65% to Rs 138.97 crore in Q3 FY24 as compared with Rs 287.42 crore posted in Q3 FY23. Revenue from operations fell 1.57% to Rs 543.31 crore during the quarter as compared with Rs 551.99 crore posted in corresponding quarter last year.